Resonant Capital Advisors LLC Purchases New Shares in Snowflake Inc. $SNOW

Resonant Capital Advisors LLC purchased a new position in Snowflake Inc. (NYSE:SNOW) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 958 shares of the company’s stock, valued at approximately $214,000.

Other hedge funds have also bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new stake in shares of Snowflake in the 2nd quarter worth about $25,000. Avion Wealth boosted its position in shares of Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after buying an additional 49 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Snowflake by 748.0% in the first quarter. Golden State Wealth Management LLC now owns 212 shares of the company’s stock worth $31,000 after buying an additional 187 shares during the period. Whittier Trust Co. lifted its stake in shares of Snowflake by 149.1% during the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after acquiring an additional 82 shares during the last quarter. Finally, LGT Financial Advisors LLC purchased a new position in Snowflake during the 2nd quarter valued at $36,000. Institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other Snowflake news, CAO Emily Ho sold 1,658 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $225.25, for a total value of $373,464.50. Following the completion of the sale, the chief accounting officer owned 31,745 shares of the company’s stock, valued at approximately $7,150,561.25. This trade represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 5,000 shares of Snowflake stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $250.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the executive vice president owned 43,568 shares of the company’s stock, valued at $10,892,000. This trade represents a 10.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,182,434 shares of company stock worth $270,280,661. Insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $267.31 on Wednesday. The firm has a 50 day moving average of $230.64 and a 200 day moving average of $208.03. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $90.56 billion, a price-to-earnings ratio of -64.41 and a beta of 1.21. Snowflake Inc. has a 52 week low of $113.23 and a 52 week high of $270.94.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. On average, sell-side analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of recent analyst reports. Cowen reiterated a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. Jefferies Financial Group lifted their price objective on shares of Snowflake from $250.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Morgan Stanley upped their target price on shares of Snowflake from $262.00 to $272.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Raymond James Financial lifted their price target on shares of Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Finally, Royal Bank Of Canada boosted their price target on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $258.95.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.